Mrugesh Trading Q2 FY27 results: net profit ₹0.14 crore vs ₹0.03 crore loss, revenue up 74.5%

How did Mrugesh Trading perform in Q2 FY27?

Mrugesh Trading Ltd reported standalone revenue from operations of ₹1.71 crore for Q2 FY27, the July–September 2026 quarter, against ₹0.98 crore in Q2 FY26, a rise of 74.5%. Against the previous quarter, Q1 FY27, revenue was up ₹1.28 crore, or 297.7%, from ₹0.43 crore. Total income for the quarter was ₹2.19 crore, compared with ₹0.98 crore a year earlier and ₹0.71 crore in Q1 FY27.

Profit before tax for Q2 FY27 was ₹0.14 crore, compared with a loss of ₹0.03 crore in Q2 FY26 and ₹0.09 crore in Q1 FY27. Net profit was ₹0.14 crore against a net loss of ₹0.03 crore a year earlier, an improvement of ₹0.17 crore, and was up ₹0.05 crore from the previous quarter. Basic EPS was ₹0.00, against negative ₹0.12 in the year-ago quarter. The company has not reported EBITDA or an EBITDA margin for the quarter, and the figures above are on a standalone basis.

What changed in Mrugesh Trading's costs and profit?

Other income was ₹0.48 crore in Q2 FY27, compared with no other income in Q2 FY26, a difference of ₹0.48 crore. Against Q1 FY27, other income was up ₹0.20 crore from ₹0.28 crore. Total expenses were ₹2.05 crore, up ₹1.04 crore, or 103.0%, from ₹1.01 crore in the year-ago quarter, and up ₹1.43 crore, or 230.6%, from ₹0.62 crore in the previous quarter.

Employee cost was ₹0.03 crore in Q2 FY27, up ₹0.01 crore from ₹0.02 crore a year earlier, and unchanged from Q1 FY27. Finance costs were ₹0.10 crore, up ₹0.10 crore from the year-ago quarter and from the previous quarter. Other expenses were ₹0.09 crore, up ₹0.05 crore from ₹0.04 crore a year earlier, but down ₹0.09 crore from ₹0.18 crore in Q1 FY27. Depreciation was unchanged and there was no exceptional item in either period. Tax was unchanged at no tax expense, so the profit before tax of ₹0.14 crore was carried through to net profit.

How did the first half of FY27 go?

For the first half of FY27, revenue was ₹2.15 crore against ₹0.98 crore in H1 FY26, a rise of ₹1.17 crore, or 119.4%. Total income was ₹2.9 crore, up ₹1.92 crore, or 195.9%, from ₹0.98 crore in the year-ago half.

Profit before tax in H1 FY27 was ₹0.23 crore, compared with a loss of ₹0.08 crore in H1 FY26, a difference of ₹0.31 crore, and the half swung to profit. Net profit was ₹0.23 crore against a net loss of ₹0.08 crore, and basic EPS was ₹0.00 against negative ₹0.31.

What do the balance sheet and cash flow show?

As at 30 September 2026, total assets were ₹74.95 crore against ₹74.78 crore at 31 March 2026. Total equity was ₹72.36 crore compared with ₹72.13 crore, and borrowings were ₹2.52 crore at both dates. Cash was ₹15.92 crore against ₹0.31 crore at the previous balance sheet date. Inventories were ₹12.84 crore against ₹13.2 crore, trade receivables were ₹8.41 crore against ₹7.91 crore, and trade payables were ₹0.07 crore against ₹0.06 crore.

For H1 FY27, net cash flows from operating activities were ₹32.56 crore, against net cash used in operating activities of ₹49.51 crore in H1 FY26. Net cash used in investing activities was ₹16.95 crore against no amount in the year-ago half, and financing activities showed no amount against ₹49.65 crore a year earlier. No capital expenditure was reported in either period.

How has Mrugesh Trading done over the last 8 quarters?

Revenue over the last eight quarters moved between no revenue in Q1 FY26 and ₹7.78 crore in Q4 FY25, the peak, with ₹6.51 crore in Q4 FY26 and ₹3.84 crore in Q3 FY26. In the latest quarters, revenue was ₹0.43 crore in Q1 FY27 and ₹1.71 crore in Q2 FY27.

Net profit peaked at ₹0.26 crore in Q3 FY26 and bottomed at a net loss of ₹0.51 crore in Q4 FY26. It turned to a net profit of ₹0.09 crore in Q1 FY27 and rose to ₹0.14 crore in Q2 FY27. EBITDA margin figures were not reported for the quarters in the series.

What did the auditors point out?

The auditors issued a qualified conclusion on the interim statement. The report states that the statement was prepared in accordance with the recognition and measurement principles in Indian Accounting Standard 34, Ind AS 34, Interim Financial Reporting, prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder, and other accounting principles generally accepted in India, and that the auditors' responsibility is to express a conclusion on the statement based on their review.

Under the basis for qualified conclusion, the auditors cited inventory held at third-party locations. They said the company purchased agricultural products stated to be held as inventory at various third-party locations, but had not maintained adequate storage agreements, custody arrangements, independent confirmations or monitoring controls to establish the existence, quantity, condition and safeguarding of such inventories. In the absence of sufficient appropriate review evidence on the quantity, existence and condition of inventory at those locations as at 30 September 2026, they said they were unable to satisfy themselves regarding the correctness and valuation of such inventory.

How did Mrugesh Trading shares react?

The results were announced after market on 31 October 2026, with a prior close of ₹79.5 and a base price of ₹82.0. The stock was up 0.6% within 5 minutes of the filing, up 1.2% after 15 minutes and 1.2% after 30 minutes. On the reaction day it closed 4.3% higher from the previous close, and by the next day's close it was up 1.6% from that pre-results close. No five-session move was given.

How did other Non Banking Financial Company (NBFC) companies do?

Of the 76 other Non Banking Financial Company companies that have filed this quarter, the median revenue growth was 21.5%. Against Mrugesh Trading's revenue growth of 74.5%, 64 peers grew slower than the company and 12 peers grew faster than the company. Of the 84 peers for which profit was compared, 55 reported higher profit.